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Hong Kong stock losses deepen on Alibaba price downgrades while Xiaomi sinks on earnings concerns

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Hong Kong stocks extended losses with the benchmark index hovering at a six-week low as more analysts dialled back their optimism on China’s tech sector amid rising competition and regulatory concerns.The Hang Seng Index slipped 0.3 per cent to 24,578.81 in early Wednesday trading, bringing the decline to 4.3 per cent over six trading days. The Tech Index lost 0.7 per cent, while China’s Shanghai Composite Index slipped 0.2 per cent.Alibaba Group Holding, the owner of this newspaper, tumbled 1…




Hong Kong stocks extended losses with the benchmark index hovering at a six-week low as more analysts dialled back their optimism on China’s tech sector amid rising competition and regulatory concerns.The Hang Seng Index slipped 0.3 per cent to 24,578.81 in early Wednesday trading, bringing the decline to 4.3 per cent over six trading days. The Tech Index lost 0.7 per cent, while China’s Shanghai Composite Index slipped 0.2 per cent.Alibaba Group Holding, the owner of this newspaper, tumbled 1…

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